Reading the Tape and Order Flow in Daytrading
Matt Nadel is a true daytrader who holds his positions for about five to ten minutes. As he will tell you, he knows within the first few seconds of a trade whether it will make money or not.
In this interview, Matt describes exactly how he trades and how he combines price action, order flow, and charts to spot great opportunities. Matt explains how he decides which stocks he will be trading for the day and why he favors those that have specific characteristics.
Using a recent trade as an example, he takes us through each step of his decision-making process and shows us how he spotted the trade, entered it, and exited for a profit. He describes what he is looking for on Nasdaq Level 2 or the depth of market (DOM) screen and the clues he sees that tell him the market is ready to offer him a money-making trade.
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Tim: Hello everybody, Tim Bourquin here for MoneyShow.com.